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Conservative leadership race has U.K global crypto hub ambitions in limbo Conservative leadership race has U.K global crypto hub ambitions in limbo

Conservative leadership race has U.K global crypto hub ambitions in limbo

The U.K's plans to become a global crypto hub hang in the balance as Sunak and Truss face off for the Prime Minister role.

Conservative leadership race has U.K global crypto hub ambitions in limbo

Cover art/illustration via CryptoSlate

The shock resignation of Rishi Sunak on July 5 has cast uncertainty on the future direction of crypto in the United Kingdom In the months before his resignation, the former Chancellor spearheaded several policies to turn the country into a global crypto hub.

This included payment regulation reform to recognize stablecoins as a valid payment, creating a regulatory sandbox, developing a “Cryptoasset Engagement Group” to act as an interface between government and the crypto industry, and re-evaluating taxation policy towards digital assets.

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